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Advertising In Philadelphia: Still Time To Ring Up Holiday Sales

Dec 1, 2020 2:07:34 PM / by Larry Julius

There is cheerful news for small business owners from King of Prussia to Cherry Hill and every city and town in between.

Based on the latest projections from the National Retail Federation, holiday sales are expected to grow 3.6%-5.2% over 2019.  This means despite the economic ravages of the pandemic, Delaware Valley shoppers will be spending between $12.6 and $12.8 billion on gifts and other trappings of the season.

The NRF forecast is based on an economic model that takes into consideration a variety of indicators including employment, wages, consumer confidence, disposable income, consumer credit, previous retail sales and weather. NRF defines the holiday season as November 1 through December 31. Numbers forecast by NRF may differ from other organizations that define the holiday season as a longer period or include retail sectors not included by NRF, such as automobile dealers, gasoline stations and restaurants.

"Consumers have shown they are excited about the holidays and are willing to spend on gifts that lift the spirits of family and friends after such a challenging year," says NRF President and CEO Matthew Shay. "We expect a strong finish to the holiday season." 

“Given the pandemic, there is uncertainty about consumers’ willingness to spend, but with the economy improving most have the ability to spend,” NRF Chief Economist Jack Kleinhenz said. “Consumers have experienced a difficult year but will likely spend more than anyone would have expected just a few months ago."

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Topics Delaware Valley Small Business Owner, Philadelphia Small Business Owner, Small Business Advertising, roi, return on investment, retail, television advertising, christmas shopping, holiday shopping, consumer spending, small business owner, radio advertising, holiday spending, small business, Retail Sales, retailer, retail stores, small business marketing, consumer confidence, holiday advertising

What Is The Best Way To Reach Online Shoppers In Philadelphia?

Nov 17, 2020 9:04:10 AM / by Larry Julius

Delaware Valley shoppers are expected to spend a record $13.2 billion online in 2020, based on the most recent projections from eMarketer. This would represent year-over-year growth of 32.4%.

During the same period, according to eMarketer, receipts at brick-and-mortar stores have contracted by 3.2%.  Overall, excluding gas and auto sales, e-commerce will account for 20.6% of all retail sales this year.

The Coronavirus pandemic is credited with this seismic shift in shopping behavior as consumers continue to avoid stores and opt for online shopping.

“We’ve seen e-commerce accelerate in ways that didn’t seem possible last spring, given the extent of the economic crisis,” said Andrew Lipsman, eMarketer principal analyst at Insider Intelligence. “While much of the shift has been led by essential categories like grocery, there has been surprising strength in discretionary categories like consumer electronics and home furnishings that benefited from pandemic-driven lifestyle needs.”

Even before the onset of the pandemic, 81.3% of Philadelphia area consumers had bought goods online over the prior six months, according to Nielsen research. Purchases included clothing, health & beauty products, travel reservations, books, furniture, and groceries.

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Topics Best Way To Advertise, attribution, retail, Online Advertising, radio advertising, website traffic, digital advertising, Retail Sales, retailer, retail stores, website visits, e-commerce, advertise on radio, online shopping

Small Business Advertising In Philadelphia: Consumers Ready To Spend

Nov 13, 2020 7:37:26 AM / by Larry Julius

There is positive news for the  230,000 small businesses in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD Metro area.  A majority of consumers say they are ready to start shopping again.

A lifestyle survey just released from Nielsen indicates 53% of Americans believe that despite the continuing pandemic, life is beginning to normalize, and they are likely to resume typical activities.  Nielsen refers to this majority as "Ready-To-Go".

According to the survey, Ready-To-Go consumers now perceive less risk, feel safer, and believe their cities are emerging from crisis.

The key takeaway for Delaware Valley small business owners is that Ready-To-Go consumers are significantly more likely to start shopping within 30 days than the total population.  These buyers, according to Nielsen, are looking to spend on home improvement, professional services, auto parts/repair, shopping, food & dining, and travel.

To capture a meaningful share of the money Ready-To-Go consumers will be spending requires local small business owners to advertise.  By almost every metric, advertising on Philadelphia radio is the best advertising option.

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Topics Delaware Valley Small Business Owner, Philadelphia Small Business Owner, Small Business Advertising, Advertise On Philadelphia Radio Stations, roi, return on investment, retail, consumer spending, small business owner, radio advertising, small business, Retail Sales, retailer, retail stores, advertise on radio, small business marketing, consumer confidence

Advertising ROI In Philadelphia: Television vs. Radio

Nov 9, 2020 2:20:31 PM / by Larry Julius

Every week, according to Nielsen, significantly more consumers are reached by local radio than by Philadelphia TV.

For Delaware Valley small business owners whose marketing budgets have been ravaged by the pandemic, though, the question is which of these media can provide the best return for their advertising investments. An ROI study conducted by Nielsen and commissioned by Cumulus Media | Westwood One provides a conclusive answer.

Between April 30 and May 27 of this year, Nielsen analyzed the sales results of a major retailer who conducted an advertising campaign on both radio and television during that period.  

Using  their Portable People Meter panel of 80,000 consumers, Nielsen measured the purchase behavior of consumers who were exposed to the advertiser's commercials on both radio and television. To learn more about the methodology, click here.

The result of the study indicates that the money invested in radio advertising had a much stronger return than the money spent on TV.

Here are the key findings of the ROI study:

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Topics Delaware Valley Small Business Owner, Philadelphia Small Business Owner, Small Business Advertising, roi, return on investment, retail, television advertising, small business owner, radio advertising, small business, Retail Sales, retailer, retail stores, television, small business marketing

AVOD: 4 Letters Every Philadelphia Small Business Owners Should Know

Nov 3, 2020 8:13:10 AM / by Larry Julius

Before we explain AVOD, it is important to understand SVOD.

Delaware Valley small business owners may not be familiar with SVOD, but chances are they let it into their homes and onto their phones.

SVOD is the abbreviation for Subscription Video On Demand. That is the collective name for streaming networks like Netflix, Hulu, Disney+, and Amazon Prime.  For a monthly fee, these services provide commercial-free access to TV shows, original content, and movies.

These SVOD networks are delivered to viewers' phones, tablets, computers, and smart-TVs via the internet and not over-the-air or cable systems.

SVOD makes up a significant part of what advertisers refer to as OTT (Over-The-Top-Television) and CTV (Connected-Television). OTT/CTV is video-programming content that viewers can only watch on smartphones, tablets, computers, smart-TVs, Amazon Firesticks, and Roku Sticks.  Nielsen reports that 92.1% of Philadelphia area adults own at least one of these devices.

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Topics Delaware Valley Small Business Owner, Philadelphia Small Business Owner, Small Business Advertising, Best Way To Advertise, television advertising, small business owner, small business, philadelphia television, direcTV, cable television, television, small business marketing, satellite television, cable tv, ott, ctv, streaming video, SVOD

Advertising On Philadelphia Radio Is Back In The Driver's Seat

Oct 27, 2020 2:27:26 PM / by Larry Julius

There are more than 3,500,000 car radios in the Philadelphia area. On March 24, though, many of these devices became quarantined along with their owners. That was the day when the Governor of Pennsylvania shut down the state to slow the spread of COVID-19.

According to the Apple Mobility Index, the Governor's public-safety order caused traffic on Philadelphia roadways to plummet to 40% of pre-pandemic levels.

By the beginning of July, however,  the AMI indicates that traffic in Philadelphia began to exceed pre-Covid levels. The surge in mobility is due, in part, to work-from-home, furloughed, and laid-off employees returning to their workplaces.

According to Nielsen, during the week of April 30, only 39% of adults with jobs were working outside-the-home.  During the week of October 1, though, that number had expanded to 61%.

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Topics Delaware Valley Small Business Owner, Philadelphia Small Business Owner, Small Business Advertising, Radio Listening, Effective Advertising., Effective Radio Commercials, consumer spending, small business owner, small business, in-car audio, vehicle traffic, small business marketing, consumer confidence, share of ear, point of purchase, mobility

Philadelphia Retail Sales Are Growing. Is It Time To Advertise?

Oct 20, 2020 9:07:09 AM / by Larry Julius

Now would be a good time for Delaware Valley small business owners to consider increasing their advertising expenditures.

There are just over 230,000 small businesses in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD Metro Area, according to the U.S. Census Bureau.  Based on some promising retail sales data, the Overall  Sentiment Index among local small business owners has improved 32.4% between April 26 and October 12 of this year.

The best news for business owners came from the Commerce Department on Friday when it reported that retail sales rose by a seasonally adjusted 1.9% in September.  This is the fifth straight month of gains.

Local retail gains are being powered by improving consumer confidence and a large pool of cash sitting in people's savings accounts.

The Conference Board's Consumer Confidence Index jumped to 101.8 in September, up 17.9% from August. This means consumers are in the mood to spend. Fortunately, they have money in the bank to do so.

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Topics Delaware Valley Small Business Owner, Philadelphia Small Business Owner, Small Business Advertising, Millennials, roi, return on investment, retail, consumer spending, small business owner, small business, Retail Sales, retailer, retail stores, small business marketing, millennial parents, consumer confidence, purchase intent

Newspaper Advertising In Philadelphia: Advice For Small Business

Oct 14, 2020 4:25:00 PM / by Larry Julius

Delaware Valley business owners are expected to spend $115 million on newspaper advertising in 2020. This will be 31% fewer dollars than were spent in 2019, according to a study by Borrell Associates, a company that analyzes local media expenditures across the country.

Of course, the pandemic is part of the reason advertising revenues have plummeted at Philadelphia area newspapers. But, the more significant factor is the sustained erosion of readership.

For example, between October 2017 and March 2019, the Monday-Saturday circulation of the Philadelphia Inquirer has decreased by 26%. The Sunday edition suffered a 29% decrease.

Among all advertising media available to small business owners, newspaper's ability to reach adult consumers now lags significantly behind Philadelphia radio, cable, broadcast TV, and social media.

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Topics Delaware Valley Small Business Owner, Philadelphia Small Business Owner, Small Business Advertising, Best Way To Advertise, newspaper advertising, philadelphia inquirer, small business owner, small business, small business marketing

Email Marketing In Philadelphia: Tips For Small Business Owners

Oct 5, 2020 6:45:00 AM / by Larry Julius

Delaware Valley business owners are forecast to invest $15.1 million in 2020 on email advertising campaigns to market their goods and services, according to Borrell Associates, a company analyzes ad spending by local companies across the country. 

Borrell predicts overall spending on email marketing by Philadelphia area companies is expected to be down by nearly 2% versus last year, primarily due to the pandemic. Regardless, now might be a good time for small business owners to consider engaging current and prospective customers with emails.

"Email is on-fire right now," says Jay Schwedelson, President of Worldata, a company that builds and measures email marketing success for Fortune 100 companies. "Since the start of the pandemic, consumers are spending 22% in their email inbox than they were in January."

Mr. Schwedelson speculates the increase in inbox time is due, in part, to many consumers working from home and depending more-and-more on written communication from co-workers and customers.

"It could also be that consumers are finding comfort in their email boxes rather than from all the noise on social media."

"Either way, email marketing is performing better than ever," says Mr. Schwedelson. "We've studied more than 200 million emails sent over the past 30 days to both business-to-consumer and business-to-business. We found that B2C open rates are up 16% since January, while B2B open rates are 25% higher."

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Topics Delaware Valley Small Business Owner, Philadelphia Small Business Owner, Small Business Advertising, small business owner, small business, small business marketing, email advertising, click-through rates, Subject Line, inbox, open rates, email marketing, CTR

Advertise In Philadelphia: Shoppers' Needs Are Changing...Again!

Sep 28, 2020 2:39:39 PM / by Larry Julius

There are over 4.2 million adult consumers in the Philadelphia area. Collectively, in a typical year, these shoppers would generate $103.8 billion in retail sales. This money would be spent on cars, shoes, fast-food, entertainment, groceries, mattresses, adult beverages, haircuts, makeup, and an over-abundance of other of goods and services. Their money was being spent on both the essential and the frivolous. 

The way Philadelphia area consumers spend money changed radically in March as COVID-19 began to spread. Six months into the pandemic, shopping strategies are about to change again.

It started with panic buying. Consumers began ignoring prices and were paying what was ever necessary to ensure the safety, health, and comfort of their families.  According to Nielsen, this sudden spike in demand caused widespread price increases. To put it in perspective, retail prices shot-up in 64% of all product categories stocked in grocery stores.

Almost immediately, advertising messages from local retailers shifted from promises of low prices and convenience to product availability and shopper safety.

Based on new research from Nielsen, consumers' shopping strategies are beginning to shift again. This will require Delaware Valley small business owners and retailers to also change their advertising strategies, too.

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Topics Delaware Valley Small Business Owner, Philadelphia Small Business Owner, Small Business Advertising, roi, return on investment, retail, small business owner, small business, Retail Sales, retailer, covid 19, coronavirus, corona, retail stores, recovery, small business marketing, pandemic

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